Head And Neck Cancer Drugs Market Size US$ 2.99 Bn By 2030

The global head and neck cancer drugs market size is expected to reach over US$ 2.99 billion by 2030, growing at a CAGR of 7.9% from 2021 to 2030.

The rising prevalence of head and neck cancer across the globe is the primary factor behind the growth of the global head and neck cancer drugs market. According to the World Health Organization, over 550,000 cases of head and neck cancer and around 300,000 associated deaths are recorded annually across the globe. It is known as the sixth leading type of cancer based on incidence.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1474

The rising consumption of alcohol and tobacco is a major factor behind the occurrence of the head and neck cancer. The rising investments by the pharmaceutical companies in the development of various innovative therapies such as targeted therapy, immunotherapy, and biosimilar are the significant driving forces. The rising awareness among the population regarding the head and neck cancer and the various drugs to cure head and neck cancer is boosting the growth of the market. The easy availability and access to advanced healthcare facilities have propelled the demand for the various head and neck cancer drugs across the globe.

Report Highlights

Based on the treatment type, the chemotherapy dominated the global head and neck cancer drugs market in 2020. Chemotherapy is extensively used with the other therapies like radiation therapy in combination for the treatment of the head and neck cancer. This has resulted in the dominance of this segment. Moreover, the rising incidences of the head and neck cancer across the globe are further expected to drive the growth of the market.
Based on the sales channel, the online pharmacies segment is estimated to be the most opportunistic segment during the forecast period. This is attributable to the rising popularity of various online pharmacy retail platforms across the globe. Moreover, the rising adoption of smartphones coupled with improved access to the internet is positively impacting the market growth. More than half of the global population had access to internet by the end of 2019, as per the ITU. This number is expected to grow rapidly in the foreseeable future, which in turn would impact the market growth significantly.

Regional Snapshot

North America accounted for the largest market share of the global head and neck cancer drugs market in 2020. The enhanced access to the healthcare services and advanced diagnostic services has resulted in the early screening of the head and neck cancer in North America. Moreover the increased consumption of tobacco, alcohol, and smoking has resulted in the rising incidences of head and neck cancer. According to the American Cancer Society, head and neck cancer accounts for around 4% of the total cancer cases in US. In 2021, it is estimated that around 48,740 men and 17,890 women will develop head and neck cancer. Around 14,620 deaths are estimated to occur in US in 2021 due to head and neck cancer. This is a major factor that spurs the demand for the head and neck cancer drugs across North America.

Asia Pacific is expected to be the fastest-growing market during the forecast. This is attributable to the rising investments in the development of advanced healthcare infrastructure for improving the access to the healthcare services is exponentially driving the market growth. The rising awareness regarding the head and neck cancer coupled with rising healthcare expenditure and rising adoption of healthcare insurances in the region is driving the growth of the head and neck cancer in Asia Pacific.

Table of Contents

Head and Neck Cancer Drugs Market Scope

Report Highlights	Details
Market Size by 2030	USD 2.99 Billion
Growth Rate From 2021 to 2030	7.9%
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Treatment, Sales Channel, Region

Head and Neck Cancer Drugs Market Dynamics

Driver

Rising popularity of the immunotherapy

The demand for the immunotherapy is rising among the head and neck cancer patients, owing to the increasing awareness regarding the benefits of the immunotherapy drugs over the traditional chemotherapy. Chemotherapy involves various risks such as reoccurrence of cancer, high side-effects, loss of life, and organ failure. The immunotherapy has no or low side-effects and provides effective treatment. This is boosting the demand for the immunotherapy drugs among the patients across the globe.

Restraint

Side-effects associated with the chemotherapy

Head and neck cancer id often treated using the combination of chemotherapy and radiation therapy. The various side-effects involves hair loss, faulty speech, and loss of normal voice. Moreover, the patients face difficulties in eating food after the cancer surgery. These inconveniences associated with the treatment are expected to hinder the market growth during the forecast period.

Opportunities

Rising adoption of latest technologies in the drug development

The manufacturers are adopting latest technologies like AI and data analytics for the research and production of various immunotherapy drugs, target therapy drugs, and biosimilar. The enhanced production and improved quality is expected to provide growth aspects to the market players in the forthcoming future.

Challenges

Lack of healthcare facilities

The developing and the underdeveloped countries lacks in adequate healthcare infrastructure that deprives the population from acquiring basic healthcare services. Moreover, weak economic conditions of the people decrease the affordability of the expensive head and neck cancer drugs.